FWRG - First Watch Restaurant Group, Inc.
First Watch Restaurant Group, Inc. operates and franchises restaurants under the First Watch trade name. As of March 23, 2022, it operated 341 company-owned restaurants and 94 franchised restaurants in 28 states in the United States.
As of May 14, 2026: spot at $10.68, ATM IV 39.3%, net GEX -$38.8K.
- Sector
- Consumer Cyclical
- Industry
- Restaurants
- Market Cap
- $664.5M
- P/E Ratio
- 37.56
- Beta
- 1.12
- 52-Week Range
- 10.09-19.53
- CEO
- Christopher A. Tomasso
- Employees
- 15,000
- IPO Date
- Oct 1, 2021
- Exchange
- NASDAQ
What FWRG Looks Like to Options Traders Today
IV rank of 6.5% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); negative net gamma exposure (-$38.8K) means dealers hedge with trend, amplifying realized volatility and accelerating directional moves; the 25-delta skew (-0.058) prices puts richer than calls, the typical equity downside-protection skew.
What This Page Covers
The FWRG overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure. Corporate data is on fundamentals, earnings, analyst ratings, and insider trading.
Frequently asked FWRG overview questions
- What is FWRG?
- FWRG is the ticker symbol for First Watch Restaurant Group, Inc., a listed security. First Watch Restaurant Group, Inc. operates and franchises restaurants under the First Watch trade name. Listed on NASDAQ. FWRG is the equity ticker shown on this page; equity options traders use the security for directional, volatility, and income strategies via the listed options chain.
- What does the FWRG options snapshot look like today?
- As of May 14, 2026, the FWRG options snapshot shows spot at $10.68, ATM IV 39.3%, IV rank 6.5%, net GEX -$38.8K, expected move 11.27%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are FWRG's key statistics?
- First Watch Restaurant Group, Inc. (FWRG) carries a market capitalization of $664.5M, trailing P/E ratio of 37.56, beta of 1.12 relative to the broader market, 52-week range of 10.09-19.53. Full income statement, balance sheet, cash flow, and TTM ratio history is on the per-ticker fundamentals page; daily price history and 52-week levels are accessible from the same view. These structural inputs frame how the options market prices implied volatility around earnings windows and capital events.
- What sector or industry does FWRG belong to?
- First Watch Restaurant Group, Inc. operates in the Consumer Cyclical sector, in the Restaurants industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare FWRG's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the FWRG data on this page?
- The options snapshot above is dated May 14, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Company-profile fields (sector, industry, market cap, P/E, IPO date) refresh from the vendor feed nightly. Financials and earnings refresh as 10-K and 10-Q filings are parsed (typically within several business days of the actual report). FINRA microstructure data refreshes on the source's cadence (daily for short volume, bi-monthly for short interest, weekly for the OTC volume file, twice-monthly for SEC FTD).